Bitcoin technical analysis. BTC-USD on January 04, 2019

January 4, 2019

Despite the similarity with the formation of lateral movement, Bitcoin is still at interesting levels to build another wave of growth. The support is very serious, going below 3650 will significantly complicate the likelihood of moving to levels around 4900 and 5600, however the market is still bullish and it is very real to see growth towards these resistances in the first months of the coming year. It is not excluded that we will move for some time in the corridor 3650-4300, and the approach to the bottom will be accompanied by an increase in the number of open longs; approaching the top face will noticeably add short positions. In any case, this marking will help to clearly determine the optimal entry levels for different positions, but it is worth noting that above 4300 there is no strong resistance and the breakdown of this level may be followed by a subsequent impulsive growth up to the indicated resistances.

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